Last checked at 29 Mar 2021 07:00
29 March 2021
NANOCO GROUP PLC
("Nanoco", the "Company" or the "Group")
Litigation Update
Nanoco Group plc (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from its technology platform, announces an update on its litigation against Samsung for the alleged wilful infringement of the Group's IP.
On 17 February 2020, the Group announced that it had filed a patent infringement lawsuit against various Samsung entities in the United States District Court for the Eastern District of Texas.
As part of the normal judicial process, the claim construction hearing (also known as a 'Markman' hearing) was held on 26 March 2021. A Markman hearing establishes the Court's interpretation of certain words or phrases pertinent to the patents and the case. The Court was asked to construe the meanings of five different words or terms used in the patents that Nanoco alleges Samsung has infringed. These definitions can be important to either side's arguments but not necessarily so. The Judge's final written report on the Markman hearing is expected before the end of May 2021.
Separately, the Patent Trial and Appeal Board is expected to rule in May 2021 on whether or not it will grant Samsung's request to institute inter partes reviews ('IPRs') of the five patents in the case. This is a parallel process which examines the validity of the patents themselves. If instituted, an IPR process can take 12 months. To succeed in the case, Nanoco needs to win the IPRs and the trial.
A trial date for the jury hearing into the alleged wilful infringement of the Group's IP by Samsung has been set for October 2021, though this may yet be subject to delay.
Brian Tenner, Chief Executive Officer of Nanoco Group plc, said:
"Our lawsuit against Samsung for the alleged wilful infringement of Nanoco's IP is progressing well and we are pleased that a trial date has been set for October 2021. We are also pleased with the initial indications arising from last week's hearing and will review the final written report when it is received. Although there can be no certainty as to the outcome, the Samsung litigation could result in a very substantial settlement in our favour."
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For further information, please contact:
Nanoco Group PLC: +44 (0) 161 603 7900
Brian Tenner, CEO
Liam Gray, Company Secretary
Caroline Watson, Investor Relations Manager
cwatson@nanocotechnologies.com
Peel Hunt: +44 (0) 20 7418 8900
Edward Knight
Nick Prowting
James Smith
MHP Communications: +44 (0) 203 128 8788
Reg Hoare
Giles Robinson
Pete Lambie
nanoco@mhpc.com
FORWARD LOOKING STATEMENTS
This announcement (including information incorporated by reference in this announcement), and other information published by Nanoco may contain statements about Nanoco that are or may be deemed to be forward looking statements. Such statements are prospective in nature. All statements other than historical statements of facts may be forward looking statements. Without limitation, statements containing the words "targets", "plans", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "estimates", "projects" or "considers" or other similar words may be forward looking statements.
Forward looking statements inherently contain risks and uncertainties as they relate to events or circumstances in the future. Important factors such as business or economic cycles, the terms and conditions of Nanoco's financing arrangements, tax rates, or increased competition may cause Nanoco's actual financial results, performance or achievements to differ materially from any forward looking statements. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward looking statements, which speak only as of the date hereof. Nanoco disclaims any obligation to update any forward looking or other statements contained herein, except as required by applicable law.
Notes for editors:
About Nanoco Group plc
Nanoco (LSE: NANO) harnesses the power of nano-materials. Nano-materials are materials with dimensions typically in the range 1 - 100 nm. Nano-materials have a range of useful properties, including optical and electronic. Quantum dots are a subclass of nano-material that have size-dependent optical and electronic properties. The Group produces quantum dots and other nano-materials. Within the sphere of quantum dots, the Group exploits different characteristics of the quantum dots to target different performance criteria that are attractive to specific markets or end-user applications such as the Display, Sensor and Electronics markets. An interesting property of quantum dots is their absorption spectrum. Nanoco's HEATWAVE™ quantum dots can be tuned to absorb light at different wavelengths across the near-infrared spectrum, rendering them useful for applications including image sensors. Another interesting property of quantum dots is photoluminescence: the emission of longer wavelength light upon excitation by light of a shorter wavelength. The colour of light emitted depends on the particle size. Nanoco's CFQD® quantum dots are free of cadmium and other toxic heavy metals, and can be tuned to emit light at different wavelengths across the visible and infrared spectrum, rendering them useful for a wide range of applications including displays, lighting and biological imaging.
Nanoco was founded in 2001 and is headquartered in Manchester, UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco continues to build out a world-class, patent-protected IP portfolio generated both by its own innovation engine, as well as through acquisition.
Nanoco is listed on the Main Market of the London Stock Exchange and trades under the ticker symbol NANO. For further information please visit: www.nanocotechnologies.com.